Easy Access | non-Regulated
*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each month for a year.
**This product tracks the Bank of England (BoE) bank rate less the Bank Rate Discount of 1.25%.
- Interest is accrued daily, based on the balance in the account at 23:59:59.00 (London time) on each day. It is applied and paid into the account on the first day of each month (or into the Nominated account or to your Operating account held with Bank of London when the account is closed).
- If the BoE rate falls below 2.0%, the Interest Rate will be reduced to zero and no interest will accrue on the account.
- If the BoE rate falls below 0%, the Interest Rate will be reduced to zero and the cost of the negative interest rate will be deducted from the account.
- Bank of England Bank Rate at the time of these projections is 4.50%.
- The simulation assumes interest is paid into this savings account and does not consider individual circumstances.
Yes, we can. The interest rate on this account is variable (Bank of England Bank Rate tracker). Please see your Terms & Conditions for more information.
The Easy Access Savings account is available to non-regulated UK & non-UK domiciled companies.
More detailed eligibility criteria are available on bankoflondon.com/legals/eligibility
To open your account:
- You can open your account using our digital onboarding process at bankoflondon.com or for existing customers you can register your interest via our online banking service.
- Your application must be signed in accordance with the articles of association, partnership agreement, limited liability partnership agreement or other constitutional documents of your company. You must have the authority to open an account on behalf of the company and obtain consent from the owners and directors of the business.
- We will do the appropriate data checks of the owners and directors of your business to validate their identity.
- You will need to nominate another UK bank account in the same business name that will be used to fund your Easy Access Savings account. This is also where we’ll send your money if you choose to make a withdrawal.
To manage your account:
- The account can be managed using our online banking service. secure.bankoflondon.com/login
- You can instruct withdrawals, view your balance and transactions through our online banking service.
- Should you wish to close your account please call Client Services (0330 165 9131). We will apply all due interest and fees prior to closure, transferring the remaining balance to the Nominated account or to your Operating account held with Bank of London.
- Yes, you can make unlimited withdrawals to your nominated account up to a maximum of £100k per day
- To request a withdrawal, simply log in to our online banking service - secure.bankoflondon.com/login
- Withdrawals made before 5.00pm will be processed the next business day.
- Withdrawals made after 5.00pm will be processed the business day after the next business day.
- When we say business days, we mean Monday to Friday, except public holidays in England and Wales on which clearing banks in London are not open for business.
- Note that, should your balance fall below the Minimum Balance, we will need to close your account.
There are no fees on this product.
- Externally addressable (unique sort code and account number)
- Currency: GBP
- Money movement: in / out across Faster Payments to nominated account, or, to the client's Bank of London Operating account
- Confirmation of Payee (CoP)
- Client dashboard, monthly PDF bank statements and annual interest statement
- Distribution Channel: Banking Portal
- Base rate tracker interest (accrues daily and credits monthly)
We will pay your interest in full, without the deduction of income tax. Cool-off period: you can close this account at any time given 1 business day notice.
'Bank of London’, ‘The Bank of London’ and ‘TBOL’ are registered trading names of The Bank of London Group Limited. Our registered office is at 4th Floor, 77 Cornhill, London, EC3V 3QQ, United Kingdom. Our company number is: 12844788.
Bank of London is a bank authorised by the Bank of England’s Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority. Our Firm Reference Number or FRN is: 930379.
Eligible deposits with Bank of London are protected up to a total of £85,000 (or £170,000 for joint accounts) by the Financial Services Compensation Scheme (FSCS), the United Kingdom’s deposit guarantee scheme. Due to FSCS’s own eligibility criteria some clients may not be covered.
Easy Access Savings (Non-Reg) v2.2-06022025